Goldman Sachs Asset Management (GSAM), established in 1988, is one
of the world's leading asset managers, with more than $1,082 billion in assets
under supervision and 2,000 professionals across 34 offices worldwide1.
We help our clients navigate today’s dynamic markets and identify the
opportunities that shape their portfolios and long-term investment goals by
providing investment solutions in both traditional and non-traditional asset
classes. We remain committed to outstanding research, disciplined investment
processes, risk management, and attracting and retaining top investment talent.

GSAM has a long-standing relationship
with Taft-Hartley plans and has been helping
our clients meet their objectives since 1991.We currently work with more
than 30 Taft-Hartley plans and their investment consultants across the country,
managing more than $5 billion.
As partners with these funds, we are committed to client service and our role
as a fiduciary; in seeking to help working Americans meet their retirement
goals.1

1 As of December 31, 2015. GSAM leverages the resources of Goldman,
Sachs & Co. subject to legal, internal and regulatory restrictions. Assets
Under Supervision (AUS) includes assets under management and other client
assets for which Goldman Sachs does not have full discretion.

THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION
WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO.

Opinions expressed are current opinions
as of the date appearing in this material only. No part of this material may,
without GSAM’s prior written consent, be (i) copied, photocopied or duplicated
in any form, by any means, or (ii) distributed to any person that is not an
employee, officer, director, or authorized agent of the recipient.

The portfolio risk management process
includes an effort to monitor and manage risk, but does not imply low risk.

Confidentiality

No part of this material may, without GSAM’s prior written consent, be
(i) copied, photocopied or duplicated in any form, by any means, or (ii)
distributed to any person that is not an employee, officer, director, or
authorized agent of the recipient.